Luxembourg: Hub for European Market
Economic and Finance Review 01-15 January 2015 Click here
Luxembourg Review01-15 January 2014 Click here
Interactive meeting with H.E Mr. Gaston Stronck, Ambassador of the Grand Duchy of Luxembourg
Interactive meeting with H.E. Mr. Sam Schreiner, Ambassador of Luxembourg in India
Luxembourg is a small European country, surrounded by Belgium, France and Germany. It’s mostly rural, with dense Ardennes forest and nature parks in the north, rocky gorges of the Mullerthal region in the east and the Moselle river valley in the southeast. Its capital, Luxembourg City, is famed for its fortified medieval old town perched on sheer cliffs.
Luxembourg is the capital of the small European nation of the same name. Built amid deep gorges cut by the Alzette and Pétrusse rivers, it’s famed for its ruins of medieval fortifications. The vast Bock Casemates tunnel network encompasses a dungeon, prison and the Archaeological Crypt, considered the city’s birthplace.
Official languages: Luxembourgish, French, German
India and Luxembourg enjoy warm, close and friendly tiessince the establishment of diplomatic relations in 1948. Bilateral relations of India and Luxembourg are rooted in shared commitment to Rule of Law and democratic values, appreciation of each other’s concerns and commonality of views on major bilateral and multilateral issues.
Bilateral trade between India and Luxembourg, during January-December 2015, stood at € 45.82 million (USD 50.86 million).In the current year, during January-April 2016, bilateral trade stood at € 15.83 million (USD 17.57 million) India’s exports to Luxembourg mainly constituted of engineering products, textiles and garments, and chemicals while India mainly imported engineering goods, base metals, plastics and articles.
FDI flows from Luxembourg to India between April 2000 and March 2016 were about US$ 2,046 million, making it the 13th most important investor in India. Luxembourg invests in computer software/hardware, chemicals, steel and in the automobiles sectors.
Luxembourg presents huge opportunities to Indian IT companies interested in serving the EU market. Major Indian IT companies – TCS, Damco solutions, Tech Mahindra and Wipro -have already set up successful operations in Luxembourg.
The Luxembourg BioHealth Cluster is a young emerging Cluster aiming to reinforce and capitalise on the National Strategy developed by the Government to achieve scientific excellence in molecular diagnostics, the cornerstone of personalised medicine, and to enhance Luxembourg’s reputation as a recognised and attractive environment for biomedical research, development, innovation (RDI) and business.
Cluster for Logistics, Automotive Cluster, Space Cluster, ICT Cluster – a growing number of initiatives aimed at bringing together all the players, both private and public, in a specific field.
Our members are R&D companies, public research organisations, laboratories, hospitals and other actors (patients associations, providers of capital and services…) based in Luxembourg whose activities are related to Health Sciences and Technologies. With a principal focus on molecular diagnostics, the Cluster’s umbrella also covers other RDI/business domains that are key elements in an integrated patient-based personalised medicine approach, such as new therapeutics, bioinformatics, medical device and telemedicine. Supporting this dynamic and steadily growing bio community is our main objective.
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